ID :
201773
Wed, 08/17/2011 - 05:05
Auther :
Shortlink :
https://oananews.org//node/201773
The shortlink copeid
Conglomerates' economic concentration hits record high in 2010
SEOUL, Aug. 17 (Yonhap) -- Economic concentration by South Korea's top 10 conglomerates reached a record high level last year, fueling concerns of big businesses expanding their control over the national economy, a report showed Wednesday.
According to Chaebol.com, the combined sales of 539 manufacturing affiliates of the leading conglomerates reached 756 trillion won (US$704.4 billion), or 41.1 percent of the total in the manufacturing sector.
This marks the first time that the ratio has exceeded the 40 percent mark. In 2005, sales by the top conglomerates, also known as chaebol, hovered at 412 trillion won, or 34.4 percent of the total for the manufacturing sector, but they grew to 37.9 percent in 2009.
Of the companies checked, the total sales by affiliates of Samsung Group, the country's largest family-owned conglomerate, topped 209 trillion won to account for 11.4 percent of all manufacturing-related sales that stood at around 1,840 trillion won for the entire year.
Sales for Hyundai Motor Co., South Korea's largest carmaker, expanded to 124 trillion won, with numbers for conglomerates such as SK and LG all exceeding the 100 trillion won mark last year.
Chaebol.com, which provides information on South Korea's family-oriented conglomerates, meanwhile, said the aggregate value of listed stocks of the 10 largest conglomerates reached 698.7 trillion won as of Aug. 1, accounting for 52.20 percent of the total value of shares listed on the stock exchange.
The figure represents a gain from the 46.32 percent tallied in late 2009 when the value of shares topped 447.8 trillion won.
According to Chaebol.com, the combined sales of 539 manufacturing affiliates of the leading conglomerates reached 756 trillion won (US$704.4 billion), or 41.1 percent of the total in the manufacturing sector.
This marks the first time that the ratio has exceeded the 40 percent mark. In 2005, sales by the top conglomerates, also known as chaebol, hovered at 412 trillion won, or 34.4 percent of the total for the manufacturing sector, but they grew to 37.9 percent in 2009.
Of the companies checked, the total sales by affiliates of Samsung Group, the country's largest family-owned conglomerate, topped 209 trillion won to account for 11.4 percent of all manufacturing-related sales that stood at around 1,840 trillion won for the entire year.
Sales for Hyundai Motor Co., South Korea's largest carmaker, expanded to 124 trillion won, with numbers for conglomerates such as SK and LG all exceeding the 100 trillion won mark last year.
Chaebol.com, which provides information on South Korea's family-oriented conglomerates, meanwhile, said the aggregate value of listed stocks of the 10 largest conglomerates reached 698.7 trillion won as of Aug. 1, accounting for 52.20 percent of the total value of shares listed on the stock exchange.
The figure represents a gain from the 46.32 percent tallied in late 2009 when the value of shares topped 447.8 trillion won.
